![]() So we have to do everything in our power to help make that happen,” Almasi told CoinDesk. “We felt strongly that the ideas and products that are going to define Web3 for the next 20 years are going to be built in the next two to three years. ![]() These are companies that could still be relevant in 20 years.Īnd Almasi thinks that those companies will be built within the next two to three years. It currently counts layer 2 Ethereum scaling solutions Arbitrum, Matter Labs and Optimism, 3D avatar tech Genies, web3 communications provider XMTP, and decentralised analytics platform Space and Time, among its 84 portfolio companies.Īlthough the return is still an important element for any investor, Alchemy is prioritising projects that build apps and solutions that leverage the use cases of blockchain technology. ![]() The leading blockchain API and infrastructure provider has ongoing partnerships with some of the leading blockchain companies including Astar Network a leading blockchain infrastructure provider that supports Ethereum Virtual Machine (EVM)-based smart contracts for multi-chain transactions.Īlchemy is also backed by leading venture capital firms like A16z, Lightspeed, Coatue and Altimeter, among others. The company is specifically focused on backing founders that are looking to build on the Alchemy ecosystem. In a recent interview with CoinDesk, Alchemy’s Paul Almasi described the fund’s strategy as that of aligning itself with “web3 missionaries, not mercenaries”. The platform can also be used by developers to launch web3 apps.Īll these products and investments are part of a vision to play a key role in defining the future of web3. In August, it also acquired web3 education service provider ChainShot for an undisclosed amount.Īnd in December, it launched a free web3 app store that people can use to access decentralised apps. In June, it launched a $25 million developer grant program to ramp up the mass adoption of web3. The blockchain infrastructure company’s venture arm raised $200 million earlier last year at a valuation of $10 billion.Īlthough several web3-focused VCs, and certainly mainstream venture capital firms have reduced their investments in the industry since June last year, Alchemy has maintained its strategy of investing in early-stage web3 startups. The fund was last valued at $10 billion following a $200 million fundraising in early 2022.Īlchemy has continued with its efforts in backing web3 startups despite the market downturn.The web3 investment fund mainly invests in early-stage companies building on the Alchemy ecosystem.Alchemy’s venture arm wants to play a role in defining the future of web3.
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